Friday 11/6 Insider Buying Report: LODE, CYH
Friday, November 6, 10:31 AM ET
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10 Bargains You Can Buy Cheaper
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Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Comstock Mining (AMEX:LODE), a filing with the SEC revealed that on Wednesday, Director Robert C. Kopple bought 1,948,954 shares of LODE, for a cost of $0.59 each, for a total investment of $1.15M. Bargain hunters have the opportunity to bag LODE at a price even lower than Kopple did, with shares trading as low as $0.55 in trading on Friday which is 7.6% under Kopple's purchase price. Comstock Mining is trading trading flat on the day Friday. This purchase marks the first one filed by Kopple in the past twelve months.
The conversion definitely does cause dilution.
Before you had 85 million shares , now you have 145 million. They just accelerated the conversion which increased the common shares causing dilution.
I am just not understanding why the price is up.
These was not liabilities on the books so that is not true,
Someone who knows what they are talking about is welcome to answer
Low Selling Price Issues—In the case of a common stock selling for a substantial period of time at a low price per share, if the issuer shall fail to effect a reverse split of such shares within a reasonable time after being notified that the Exchange deems such action to be appropriate under all the circumstances. In its review of the question of whether it deems a reverse split of a given issue to be appropriate, the Exchange will consider all pertinent factors including, market conditions in general, the number of shares outstanding, plans which may have been formulated by management, applicable regulations of the state or country of incorporation or of any governmental agency having jurisdiction over the issuer, the relationship to other Exchange policies regarding continued listing, and, in respect of securities of foreign issuers, the general practice in the country of origin of trading in low-selling price issues.
I have been for Lode from the beginning but how can you make such a false statement about delisting? Of course price is crucial. What are you talking about? You make the bashers look smart.
Don't forget previously when they were goldspring they had way too many share so a reverse reduced the shares to a more normal number. That's why it was a 1 for 200. 100 million shares now that they have is not exorbitant.
Understand what you are saying, but the main reason they would consider a reverse right now if they are being delisted because the stock price is below $1. A reverse would get it over $1. The financing is not the reason I am worried about a reverse. If they were at $1.50, they could still raise capital by issuing more shares at 1.5
Kgrffn11- What are you talking about ? What does financing have to do with a reverse split. They would reverse split to get the price over $1. Has nothing to do with financing.
It's obvious you have no idea what you are talking about. A reverse is not to issue more shares. A reverse is to get the price back over $1 so they don't get delisted. So if the do a 1 for 5 , the price goes to 3.75 but the shares cut down shares for every one. Takes a lot longer to make up your losses if you have them. Example if I have lost 20,000 on this stock and own 10,000 shares, my shares would go to 2000 and now it would take a lot bigger price move to make up my loss.